Selling off their Inheritance
If the kids especially the Female which is Matured agrees to you then no problem.

Don't sell it thinking that no other person is aware of those buildings which you found time will tell Cause "The Walls have Ears"

I'm assuming the kids will get partial ownership of the business (you sold their house to start the biz, so it's only right). Do not codedly sell anything please. Get a lawyer and be legit... your future self will be proud of you.

I say keep the buildings; they are already there, and offer guaranteed income - though you may need some way to tide over until rental payments become regular. Lawyer up, evict existing tenants, then get new one under new terms.

TBH business will not bring money as reliably, nor as soon as rental income. People always talk about turnover - which is not the same as profits. If things costs you 500k, you may sell for 550k (turnover is 550k), but your gross profit is only 50k at best. After expenses you may find your net profit is more like 25k (5%)

There are also sunk costs like rent, gen, or some other things you need to start the business.

Lastly, if you sell the properties to start business, you may find yourself using some of those funds for their upkeep, and won't have enough to sustain the business. Not to talk of all the unforeseen ongoing costs and the stress of running a business.

At 21 your niece is already an adult, you two should talk things over.

Rather than suffer or not being able to futher their education due to lack of cash, its better you both reach a common ground on that but pls with a lawyer as witness.

But l ll rather prefer you work on the current tenants, eject those finding it difficult to pay rent, effect some slide review if possible and see if that can boost the cash flow.

Ur case is very dicey, those children may grow up hating or liking you depending on your actions now.
Pls be transparent in all your dealings and carry the 21 year old along.
Good luck

GOD IS YOUR STRENGTH

What ever you do, make sure those kids do not lack anything. Make Sure they are well educated and well taken care of. You will benefit more if you do the right thing, because one way or the other, they must make it in life

I'm a little bit confused here, did your leave any husband behind, at 39, how come you're the only one who knows about these mentioned properties?
Is your family that small, that all the other members don't know and now you're the custodian of the 2 children left behind and also you're not married yet.
Anyways if you must sell any house, it must be done legitimately and you must be accountable for every kobo spent.

You need to secure all the assets and get those tenants out because it might be because they know the real owner is dead that is why they don't pay at when due.

Plan out how to use the rent to take care of the kids and Hustle your own money pretending those assets don't exist.

If you have that mindset that they don't exist you won't think of selling one as the only way of survival.

Abagworo:
The most important question from me is if you have a running business that needs expansion or if you intend to start hunting for business after selling the property for 10 million? 10 million is quite a small sum of money to break into a business you are not experienced in for you will surely lose the money.

this one is not from Anambra . Them dy settle us here with 300k after 6 yrs of boi boi and we start balling after a yr

Is it your property?

Charleys:
Guy you want to sell your Aunty's property. That she left for her kids


See evil uncle.
Lalasticlala come......o abeg come here now.

how will he take care of the kids Think!

eddy1234:

thanks bro....I always carry the girl along in what ever I do and she sees how I struggle to meet up before any tenant pays.(late payment most times).just scared .they are with their god mother now and they cry everyday that the woman maltreats them
I can't get them off their when I have no dime on me.thanks once again.u just gave me strength ...

THE SPORTAGE IS THE LIABILTY
sell the KIA.
like 1.5m

that should take care of you 3 till next rent.

use the rents to complete 6 flats.
rent that and put the money in Nigerian treasury bills or a Money market fund continuously.

Next...move the kids to one of the flats and stop that mal-treatment.
20 year old should be able to care for herself and bro.


DO NOT LIVE WITH THEM O!

you know Y

GO GET ANOTHER JOB...start biz small part time ONLy 100k capital.

good luck

(my 70-years old father refuses to show his children & wife his properties & you are complaining about your aunt being secretive...lol)

Call a meeting of all the tenants and make them understand the condition you are in and encourage them to pay up whatever they owe promptly else you evict them. Don't try to sell any of the properties else you will become addicted to selling until none remains.

Encourage the 20 year old to work hard at school and help her gain admission in Canada or US through SAT and begin work on the 12 year old too.

With the properties we'll managed, you should have enough to cater for them and try completing the duplex through partnership or lease... Don't sell.

Ensure you satisfy the needs of the two children left behind before planning for yourself if you don't want ill-luck befall you.

Avoid baba ijebu or sports betting too. God is with you

eddy1234:

thanks bro....I always carry the girl along in what ever I do and she sees how I struggle to meet up before any tenant pays.(late payment most times).just scared .they are with their god mother now and they cry everyday that the woman maltreats them
I can't get them off their when I have no dime on me.thanks once again.u just gave me strength ...

Wow. Awesome, balanced and sound advice. People like you make Nairaland what it is: a special place to be at. God bless and thanks.

LeoThaGreat:
Selling a real estate isn't the same as selling a mobile phone. You'll need legit papers in place.
Once you have that, go ahead and sell just 1 property, because that will be more than enough to maintain the welfare of the true owners of the properties - your aunt's kids; you'll also have enough funds to set something up to bring regular cash into your account, or probably get a new job.

The adopted child is also a legitimate beneficiary of those properties, and if you misappropriate them, she will spend her entire life haunting you for bad.
Help her get admission in a relatively affordable private university in Nigeria. She will meet other rich kids that can change her life for better, and you'll also benefit if you don't mess up.

If you can maintain those properties well, you will have no reason to lack.

Make sure you document every kobo because you are accountable to those kids, and they might need you to detail how you managed their mom's properties later in life.
.
.
Hope my contribution has been helpful

Just one question..... What happened to the father of the biological child?

naijadrivablog:
Dont sell.You are holding those properties in trust for her kids. If you are wise, you can become rich from what you have already.


How much does the rented apartment return yearly? Can't you give the tenants quit notice and get new ones, get a lawyer to collect the rent


A typical 3 bedroom should return N400-800k per annum times 4 = 1,600,000 - 3,200,000 per annum.

How much is your upkeep and children school fees?

Now, you can keep the new houses you discovered under your hat for now.

You're quoting 400k to 1.6m did you ask the location. What if it's one of those flats at Ikorodu or similar areas where flats goes for 150-300k per annum

oga forget selling the house until you know exactly what you are doing?

philip0906:
I sincerely hope it is not that girl with loose vagina you posted about a while back, that is making you take this step?

Bad guy.......
The internet never forgets.

concho:
this one is not from Anambra . Them dy settle us here with 300k after 6 yrs of boi boi and we start balling after a yr

U no go tell am where u dey go submit the 300k after settlement, u no go tell am say before u get the 300k u Don get your own shop and plenty boiz under you for another market,
Guy leave matter.... Na person wet wear chaplet dey think say everybody Na Catholic.

LeoThaGreat:
Selling a real estate isn't the same as selling a mobile phone. You'll need legit papers in place.
Once you have that, go ahead and sell just 1 property, because that will be more than enough to maintain the welfare of the true owners of the properties - your aunt's kids; you'll also have enough funds to set something up to bring regular cash into your account, or probably get a new job.

The adopted child is also a legitimate beneficiary of those properties, and if you misappropriate them, she will spend her entire life haunting you for bad.
Help her get admission in a relatively affordable private university in Nigeria. She will meet other rich kids that can change her life for better, and you'll also benefit if you don't mess up.

If you can maintain those properties well, you will have no reason to lack.

Make sure you document every kobo because you are accountable to those kids, and they might need you to detail how you managed their mom's properties later in life.
.
.
Hope my contribution has been helpful

Reading through this your comment gives me so much joy.

Well done.

Don't sell the house because it will later bounce back. No matter how loyal you're to them some people somewhere will still poison their minds that you've sold more properties in their absentia especially if your means of livelihood changes so drastically to better. This best idea is watching them bringing suggestion after serious hardship with trials before you'll jump to such conclusion of selling any of the properties.
As you've been told earlier, seek out for property lawyer to manage the houses for rent and from their you can make a life for yourself too in a little way.
THIS IS ONLY IF YOU GOT THE FEAR OF GOD IN YOUR ENDEAVORS.

Abagworo:
The most important question from me is if you have a running business that needs expansion or if you intend to start hunting for business after selling the property for 10 million? 10 million is quite a small sum of money to break into a business you are not experienced in for you will surely lose the money.

I love to read from great people like this.

Op, this poster just gave you a million dollar answer.


Many businesses fail within the first 3 years of their startup, especially businesses started from the top.


Op, if you haven't mastered any business currently, I will advice you not to venture into any now because you will lose the money. If possible, use the money and relocate out of Nigeria to Canada or Australia or some newfound small European countries where youcan secure small job to be supporting yourself and those kids....but you can only sell 1 of the properties only to put into this.

Don't sell it to start any business from scratch, the money will go!

I would have loved to help you with a wonderful business idea to venture into as a starter, but my bad spirit is telling me no....and if I must do it, you must pay me huge consultation fee because you will become financially free. But pls don't contact me, don't seek for my personal counsel...just take the one I have given out here for free, thanks.


Wish you and the kids the best life can offer

able20:

You're quoting 400k to 1.6m did you ask the location. What if it's one of those flats at Ikorodu or similar areas where flats goes for 150-300k per annum

I wanted him to say. No conclusions because before I can advise him, I need to know more.

Crazy you must say I am. Plunge into the circumstance
1)marry the girl
2)adapt the boy
3)have a lawyer manage the properties
4)start small, also keep managing the money that comes from the tenants. Big cash doesn't guarantee business success
5)carry these points to any religious leader you're under to help you review and modify
Doing the (1) will help you overcome temptation and make you more responsible. That number (1) pose to you/her an unavoidable pothole which you have to unavoidably do it the legal and right way. Females develope love towards the people that take care of them, talk less of yours that has no blood relationship

Hope she doesn't have money stock up in an account somewhere which you are yet to find out
Trace all first

fykes:
Just one question..... What happened to the father of the biological child?

The Op's Aunt was a black feminist na, black female feminist hate to stay under a man once they see small financial success, are you surprised

eddy1234:
OK friends ...I have a lot in my hands and I need matured advice not to make mistakes please... I lost my rich aunt last year ....she handed over her properties and two kids to me to take care ...(adopted.the girl is 20yrs .just finished jamb .the boy is 12yrs .just going into js1)

now I'm 39. not married.and lost my job 2months ago....no liquid cash left but I have in my custody 4 units of 3bedroom flats ....also a 6 bedroom duplex not yet finished so no tenant yet... since my aunt was so secretive I had to start looking for other houses she didn't say...I have found two in an estate .....somewhere...nobody knows about it but me.I'm yet to find out more properties about 4. I have a new kia sport age jeep too in my possession ....


now d demand for upkeep and school fees from these two kids is really eating me up...have to borrow pending wen tenants pay .late payment most times....

now I'm turn in between selling one of the houses I found out on code. 10million.just a small apartment....I know I can start life wit it.love most of the problems,look for more properties and complete the 6 bedroom duplex.... my question and fear is that should I sell it and start life or keep managing with tenant fee and late payment ..?

OK o.
Don't come crying to us saying you can't sleep because you keep seeing your dead rich aunt .

Its not your property.

& if you can't hustle for tenants to fill all the apartments it might be hard for you to sell whatever you want to go into

Count urself lucky as the male is just 12 years old. My guy. Try and carry those kids along in any decision u want to make. .. Dem sabi how everything dey go.

LeoThaGreat:
Selling a real estate isn't the same as selling a mobile phone. You'll need legit papers in place.
Once you have that, go ahead and sell just 1 property, because that will be more than enough to maintain the welfare of the true owners of the properties - your aunt's kids; you'll also have enough funds to set something up to bring regular cash into your account, or probably get a new job.

The adopted child is also a legitimate beneficiary of those properties, and if you misappropriate them, she will spend her entire life haunting you for bad.
Help her get admission in a relatively affordable private university in Nigeria. She will meet other rich kids that can change her life for better, and you'll also benefit if you don't mess up.

If you can maintain those properties well, you will have no reason to lack.

Make sure you document every kobo because you are accountable to those kids, and they might need you to detail how you managed their mom's properties later in life.
.
.
Hope my contribution has been helpful

How can one person have this much sense? ! Well said!

eddy1234:

thanks bro....I always carry the girl along in what ever I do and she sees how I struggle to meet up before any tenant pays.(late payment most times).just scared .they are with their god mother now and they cry everyday that the woman maltreats them
I can't get them off their when I have no dime on me.thanks once again.u just gave me strength ...

If they cry all the time because a wicked bitch maltreats them pls get them out to a safer place before their psychological health gets damaged.

eddy1234:
OK friends ...I have a lot in my hands and I need matured advice not to make mistakes please... I lost my rich aunt last year ....she handed over her properties and two kids to me to take care ...(adopted.the girl is 20yrs .just finished jamb .the boy is 12yrs .just going into js1)

now I'm 39. not married.and lost my job 2months ago....no liquid cash left but I have in my custody 4 units of 3bedroom flats ....also a 6 bedroom duplex not yet finished so no tenant yet... since my aunt was so secretive I had to start looking for other houses she didn't say...I have found two in an estate .....somewhere...nobody knows about it but me.I'm yet to find out more properties about 4. I have a new kia sport age jeep too in my possession ....


now d demand for upkeep and school fees from these two kids is really eating me up...have to borrow pending wen tenants pay .late payment most times....

now I'm turn in between selling one of the houses I found out on code. 10million.just a small apartment....I know I can start life wit it.love most of the problems,look for more properties and complete the 6 bedroom duplex.... my question and fear is that should I sell it and start life or keep managing with tenant fee and late payment ..?

Where is the house bro?how many bedrooms?is it in lagos?I'm looking for something of that amount...